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Following two years of negotiations, Kuwait Petroleum Corporation (KPC) has finally concluded an agreement to import LNG from Qatargas, though this initial agreement does not extend beyond 2014 – leaving some degree of supply uncertainty over the medium term for gas-hungry Kuwait.
But KPC Managing Director for International Marketing, Nasser Al-Mudhaf, says that this initial deal opens the door for further cooperation between the two state-owned Gulf firms. Neither party made the agreed price publicly available. Likewise, the volume of LNG contracted is not immediately clear, though the first shipment has already been regasified off Kuwait by Golar LNG’s 170,000 cu ms floating storage and regasification unit (FSRU). (CONTINUED - 295 WORDS)